A timely boost to the local economy
SparkFund has worked with SMEs to bring 231 incredible projects to life with a funded value of £4.1M, representing a significant boost to the region’s economy.
Since launching in May 2017, the scheme has delivered an impressive 145 new-to-firm innovations, helped 130 SMEs enter new markets, created 170 new jobs and supported an estimated increase in profitability of £10.4m.
The University of Hull has been recognised as a strong performer when it comes to sharing expertise to boost business and the economy.
Many businesses know they need to invest in R&D, and they also know Universities could be part of answer, but the pathways to innovate and collaborate aren’t clear.
Dr David Richards, Pro-Vice-Chancellor (Research & Enterprise) at the University of Hull, said: “SparkFund is one of a number of innovation support programmes at the University to simplify innovation; providing invaluable academic and business support, access to funding streams and connecting them with the right partners to deliver their ambitions.”